Where it currently stands
If the well results currently received were for a typical well, we would have 2.5 MCF per day plus about 90 barrels of liquids per day. In Turkey that would be valued at about (2500 * $7) = $17,500 plus (90 * $60) = $5,400 for a total of $22,900 per day or $8,300,000 million per year initial production rate. In Canada this kind of production would be equal to at least 10 million CF of initial dry gas production, a great well. So basically on a test well with only 6 fracs, you have what could be considered commercial levels of gas production. This is even without waiting for clean up, with a problem with the second test, on a restricted choke. VLE has a 50% interest on a play that has a massive area and the first hole with not even close to perfect completion is looking commercial, seems the market cap is kind of insanely low at the moment.